Tuesday, September 10, 2013

NOC jacks up prices of petroleum products

The Nepal Oil Corporation (NOC) jacked up price of petrol by Rs 5 to
Rs 130 per liter, informed the NOC that has claimed the price hike was
necessary to cope with the soaring cost
of imports due to strengthening US dollar against Nepali rupee.

The NOC hiked Rs 3 in per litre diesel and kerosene making them cost Rs 103 per litre now.

Similarly, the aviation turbine fuel (ATF) will now cost Rs 137
per liter – dearer by Rs 7 – for domestic airlines. However, the price of liquefied petroleum gas (LPG) – popularly known as
cooking gas – has not been revised.

Earlier, on August 10 also, the NOC had hiked the prices of petrol
by Rs 2 and diesel and kerosene by Re 1 each.

The upward price revision
will offset NOC’s loss to at least Rs 290 million per month, claimed the state
oil monopoly that will still lose Rs 1.33 billion per month. The NOC will enjoy
Rs 3 profit on a litre of petrol and Rs 28 on a litre of aviation fuel. But it will
still incur a loss of Rs 11 on a litre of diesel.